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 PRESS RELEASE

Ørsted secures licences to develop large-scale offshore wind projects ...

Ørsted A/S (Orsted) Ørsted secures licences to develop large-scale offshore wind projects in Australia 01-May-2024 / 08:33 CET/CEST 1.5.2024 08:32:54 CEST | Ørsted A/S | Investor News The Australian Government has announced that it has granted a feasibility licence for Ørsted’s first offshore wind project in Australia and intends to grant a licence for a second project, subject to consultation. With the licences, Ørsted aims to develop large-scale offshore wind farms off the coast of Gippsland, Victoria, to be operational in the early 2030s. The licences provide Ørsted with site ...

ABGSC Healthcare Research ... (+2)
  • ABGSC Healthcare Research
  • Stefan Knutsson

Profitability is on the rise

Q1 EBIT 7% above consensus. We raise '24e EBIT by 6%. Up to BUY (Hold) with a new TP of SEK 35 (28).

ABGSC Renewable Energy Research ... (+8)
  • ABGSC Renewable Energy Research
  • Adrian Gilani
  • Åsne Holsen
  • Daniel Vårdal Haugland
  • Haakon Amundsen
  • John Olaisen
  • Olof Cederholm
  • Stian Wibstad

Renewable Weekly – 29 April 2024

This week, we summarise our Q1 previews for the sector.

ABGSC Renewable Energy Research ... (+3)
  • ABGSC Renewable Energy Research
  • Åsne Holsen
  • Daniel Vårdal Haugland
Karl-Johan Bonnevier
  • Karl-Johan Bonnevier

Humana (Hold, TP: SEK30.00) - Back in acquisition mode

Q1 was mixed, with momentum still improving in Finland and Humana returning to acquisition mode, targeting Team Olivia (TO) Norway. While we find the deal value-enhancing, Humana’s relatively high financial gearing would suggest a deleveraging focus near-term, and the departure of CEO Johanna Rastad has added uncertainty at the wrong time. We reiterate our HOLD, but have raised our target price to SEK30 (27) on higher forecasts.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Trading reset implies upside

Minor short-term adjustments, applying our newest dry bulk outlook. '25e EBITDA of USD 716m, cons. at USD 601m. TP DKK 459 (412) – P/SOP 0.71x.

 PRESS RELEASE

Ørsted to present Q1 2024 results on 2 May

Ørsted A/S (Orsted) Ørsted to present Q1 2024 results on 2 May 25-Apr-2024 / 10:01 CET/CEST 25.4.2024 10:00:59 CEST | Ørsted A/S | Investor News Ørsted will publish its results for the first quarter of 2024 on Thursday, 2 May 2024. The results will be released at approx. 8:00 CEST. In connection with the presentation of the interim report, an earnings call for investors and analysts will be held on the same day at 14:00 CEST. The earnings call can be followed live at Presentation slides will be available prior to the earnings call at For further information, please contact: Glo...

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

"Unexpectedly strong" dry bulk market

Adj. net profit of USD 7m (ABGSCe 53m, cons 62m) .FY'24 guidance reiterated, adds six capesizes. Weak share price reaction warranted.

ABGSC Shipping & Transport Research ... (+3)
  • ABGSC Shipping & Transport Research
  • Oliver Dunvold
  • Petter Haugen

Dry bulk: It's the fleet growth, stupid!

Rates have now appreciated, but new orders have not followed, and low fleet growth is enough for continued optimism.

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

Ørsted : Pas besoin d’attendre la baisse des taux pour revenir sur la ...

Nous relevons notre opinion sur Ørsted à Surperformance contre Neutre précédemment avec un OC porté à 480 DKK contre 400 DKK. Les futurs projets affichent des retours sur investissement beaucoup plus attractifs que par le passé. En parallèle une attention particulière est portée sur l’équation financière plus saine et une remise à plat de l’exécution des projets. Parmi les acteurs du renouvelable, Ørsted semble le plus à même de surperformer même si la baisse des taux d’intérêt d...

Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian

Ørsted : No need to wait for a fall in interest rates to return to the...

We have upgraded our rating on Ørsted to Outperform from Neutral, with a target price lifted to DKK 480 from DKK 400. Future projects are showing a much more attractive return on investment than in the past. At the same time, particular attention is being paid to a healthier financial equation and a review of project execution. Among the renewable energy players, Ørsted seems more likely than its peers to outperform, even if the fall in interest rates takes a little longer to mat...

 PRESS RELEASE

Sunrise Wind receives federal record of decision, takes final investme...

Ørsted A/S (Orsted) Sunrise Wind receives federal record of decision, takes final investment decision 26-March-2024 / 18:22 CET/CEST 26.3.2024 18:21:55 CET | Ørsted A/S | Investor News Sunrise Wind today received its Record of Decision (RoD) from the US Department of the Interior's Bureau of Ocean Energy Management (BOEM), crossing a critical milestone in the federal environmental review process for the offshore wind project serving New York. Additionally, Ørsted and Eversource today announced they have jointly taken a final investment decision on Sunrise Wind, solidifying the co...

 PRESS RELEASE

Ørsted updates its executive management structure and appoints Rasmus ...

Ørsted A/S (Orsted) Ørsted updates its executive management structure and appoints Rasmus Errboe as Deputy CEO 21-March-2024 / 13:30 CET/CEST 21.3.2024 13:30:01 CET | Ørsted A/S | Other information disclosed according to the rules of the Exchange Following the recent launch of its , Ørsted today announces updates to its executive management structure to simplify the structure and further sharpen the company’s focus on project execution, financial discipline, value creation, risk management, and operational excellence. Supported by a DKK 270 billion investment programme, Ørsted pl...

 PRESS RELEASE

Ørsted divests share of four US onshore wind farms to Stonepeak

Ørsted A/S (Orsted) Ørsted divests share of four US onshore wind farms to Stonepeak 13-March-2024 / 08:00 CET/CEST 13.3.2024 08:00:01 CET | Ørsted A/S | Investor News Through the partnership with Stonepeak, Ørsted will recycle capital to support its business plan and future value-creating renewable energy projects. Ørsted has signed a transaction with Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, whereby Ørsted will divest to Stonepeak an equity ownership stake in a portfolio consisting of four US onshore wind farms with a total ...

 PRESS RELEASE

Tender offer for hybrid capital securities – final results

Ørsted A/S (Orsted) Tender offer for hybrid capital securities – final results 12-March-2024 / 09:08 CET/CEST 12.3.2024 09:07:55 CET | Ørsted A/S | Investor News NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT OR THE TENDER OFFER MEMORANDUM (AS DEFINED...

Orsted AS: 3 directors

Three Directors at Orsted AS bought 1,764 shares at between 359.330DKK and 388.300DKK. The significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the l...

 PRESS RELEASE

Notification of managers’ transactions

Ørsted A/S (Orsted) Notification of managers’ transactions 05-March-2024 / 21:08 CET/CEST 5.3.2024 21:08:14 CET | Ørsted A/S | Managers' Transactions Ørsted A/S has received the enclosed notification pursuant to Article 19 of EU Regulation no. 596/2014 of transactions related to shares in Ørsted A/S made by persons discharging managerial responsibilities in Ørsted A/S and/or persons closely associated with them. See the transactions of Senior Vice President and Head of Global Stakeholder Relations Ingrid Reumert in the attached PDF document. For further information, please contac...

 PRESS RELEASE

Notification of managers’ transactions

Ørsted A/S (Orsted) Notification of managers’ transactions 05-March-2024 / 18:04 CET/CEST 5.3.2024 18:03:56 CET | Ørsted A/S | Managers' Transactions Ørsted A/S has received the enclosed notification pursuant to Article 19 of EU Regulation no. 596/2014 of transactions related to shares in Ørsted A/S made by persons discharging managerial responsibilities in Ørsted A/S and/or persons closely associated with them. See the transactions of Senior Vice President and Head of Strategy, Innovation, Portfolio, Partnerships & M&A Varun Sivaram in the attached PDF document. For further info...

 PRESS RELEASE

Notification of managers’ transactions

Ørsted A/S (Orsted) Notification of managers’ transactions 05-March-2024 / 17:38 CET/CEST 5.3.2024 17:37:58 CET | Ørsted A/S | Managers' Transactions Ørsted A/S has received the enclosed notification pursuant to Article 19 of EU Regulation no. 596/2014 of transactions related to shares in Ørsted A/S made by persons discharging managerial responsibilities in Ørsted A/S and/or persons closely associated with them. See the transactions of Senior Vice President and President of Region APAC Per Mejnert Kristensen in the attached PDF document. For further information, please contact: G...

 PRESS RELEASE

Ørsted successfully issues EUR green hybrid capital securities

Ørsted A/S (Orsted) Ørsted successfully issues EUR green hybrid capital securities 05-March-2024 / 17:01 CET/CEST 5.3.2024 17:01:13 CET | Ørsted A/S | Investor News NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OR THE DISTRICT OF COLUMBIA (THE UNITED STATES), OR TO ANY US PERSON (AS DEFINED IN REGULATION S UNDER THE U.S. SECURITIES ACT OF 1933), OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. Today, Ørsted A/S (‘Ørsted’) has price...

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